Safety Deposit Boxes

The  contract  for  rent  of  safety  deposit  boxes  is  Not  an Ordinary  contract  of  Lease  of  things  because  the  Full  and Absolute Possession and Control of the safety deposit box is Not Given to the party renting. It is actually a special kind of deposit. It is a contractual relation  between  the  parties. The  liability  rules  are governed  by  the Civil Code provisions on  Obligations and Contracts, and not on donations.  

A stipulation which Exempts the bank from Liability is Void. Even if as a rule, the Bank may limit its liability to   some extent by agreement or stipulation, the agreement or stipulation must not be contrary to law and public policy.  

The law on deposit provides that the depositary is liable for loss due to fraud, negligence, delay, or  contravention of the tenor of the agreement. Hence, any contrary stipulation would be void.

Notes on Voluntary Deposit

VOLUNTARY DEPOSIT
*Read Art. 1968 in relation to Art. 1984 (NCC), Rule 63 Sec. 1 (RRC)

- When the Delivery of object is made by the Will/Mere Consent of the Depositor
- As opposed to Necessary Deposit, where Complete Freedom of Action is Absent.
- Depositor Need Not be the Owner - after all, depositor does Not Transfer Ownership over subject matter
        + "Depositary cannot demand that the depositor prove his ownership of the thing deposited" (Art. 1984)
- Remedy of depositary is Interpleader

Art. 1969
Form:
- Oral
- Written
       + Both requires Delivery

Art. 1970
When Depositor is Incapacitated
(See Arts. 1970, 1379)
- Depositary is subject to all  the obligations of a depositary, whether or not the depositor is capacitated 
- Depositary may still accept the thing from Depositor but latter cannot compel its return
- Unless by latter's legal representative (E.g. Guardian or Administrator) or by Depositor if he should acquire capacity (Ex. of sound mind again)
- Contract under Art. 1970 is Voidable
- If ca

When Depositary is Incapacitated
- See Art. 1971)
- Depositor may recover the thing deposited while it is still in the possession of the Depositary